Simplicity Wealth LLC Grows Stock Position in Tesla, Inc. $TSLA

Simplicity Wealth LLC grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 20.8% during the second quarter, Holdings Channel reports. The institutional investor owned 36,675 shares of the electric vehicle producer’s stock after purchasing an additional 6,326 shares during the quarter. Simplicity Wealth LLC’s holdings in Tesla were worth $11,650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in TSLA. KWB Wealth boosted its holdings in Tesla by 2.4% in the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock worth $439,000 after buying an additional 33 shares during the period. Conrad Siegel Investment Advisors Inc. boosted its holdings in shares of Tesla by 3.6% in the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock worth $310,000 after acquiring an additional 34 shares during the period. Guyasuta Investment Advisors Inc. grew its position in shares of Tesla by 0.7% in the second quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock valued at $1,622,000 after purchasing an additional 34 shares in the last quarter. Kelly Financial Services LLC raised its stake in shares of Tesla by 2.7% during the 2nd quarter. Kelly Financial Services LLC now owns 1,331 shares of the electric vehicle producer’s stock valued at $423,000 after purchasing an additional 35 shares during the period. Finally, Acorn Wealth Advisors LLC boosted its stake in Tesla by 1.9% in the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock worth $493,000 after purchasing an additional 36 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In related news, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the transaction, the director owned 637,031 shares in the company, valued at $269,260,263.08. This trade represents a 8.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is currently owned by insiders.

Tesla Price Performance

TSLA opened at $453.25 on Tuesday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.51 trillion, a P/E ratio of 261.99, a PEG ratio of 14.93 and a beta of 2.08. The stock has a 50-day moving average price of $366.57 and a 200-day moving average price of $324.02. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.52 EPS. Equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TSLA has been the topic of several analyst reports. Stifel Nicolaus set a $440.00 price target on Tesla in a research report on Friday, September 5th. JPMorgan Chase & Co. raised their price target on shares of Tesla from $115.00 to $150.00 in a report on Friday. Glj Research reaffirmed a “sell” rating on shares of Tesla in a report on Thursday, July 24th. CICC Research lifted their price objective on Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a research note on Thursday, September 18th. Finally, Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Thursday, July 24th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have given a Hold rating and eight have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $344.40.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.